Netflix may spend $8 billion on content in 2018

Photo of Netflix may spend $8 billion on content in 2018
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Netflix has never been afraid to spend big bucks to acquire existing content and develop new programs. On the comedy front alone, Netflix over the past 12 months has spent hundreds of millions of dollars via deals signed with A-list comedians such as Jerry Seinfeld and Dave Chappelle. In recent months, Netflix has boasted that it plans to spend $7 billion on content in 2018, with the vast majority of that earmarked for licensing content. Now comes word that the streaming giant has since upped the ante and is willing to spend upwards of $8 billion for content next year. The move shouldn't come as much of a surprise given that Netflix now faces increased competition from the likes of Hulu and traditional players like HBO.

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